While getting an ICICI personal loan you need to take care of many things and one of them is repayment. Having a convenient repayment option will ensure spotless loan records and boost your credit score. ICICI Bank allows repayment through net banking, NEFT, mobile banking, etc. Let’s read about these ICICI Personal Loan Repayment options and select the most comfortable one for you.
Scan & Pay for ICICI Personal Loan Online
ICICI Bank offers you the scan and pay service by which you just need to scan a QR code from your UPI-enabled app to pay the loan EMI. Follow the below steps for this online EMI payment –
- Insert your loan account number
- Re-enter the loan account number
- Click on the ‘Verify’ button
- View the loan details displayed on your screen
- Enter the EMI amount
- Click on the ‘Generate QR code’ button
- Open your UPI enabled app and scan the code that appears on the screen
Use Internet Banking for ICICI Personal Loan Repayment
You can repay your ICICI personal loan using the net banking service of your bank. For this, you need to follow the steps shown below –
- Select your bank from the drop-down
- Click on ‘Proceed’
- Click on the ‘Agree’ button
- Enter your loan account number twice
- Click on the ‘Verify’ button
- Enter the EMI amount
- Click on the ‘Pay Now’ button
- Now, you’ll be redirected to the payment interface of your bank
- Enter your username and password to proceed with the payment
Now, the EMI will be debited from your account instantly and the same will be notified to you via SMS or email on your registered mobile number or email address.
National Electronic Funds Transfer (NEFT)
NEFT is an electronic payment system by which you can facilitate direct payments electronically from any bank branch to the ICICI Bank branch in the country. For NEFT, first, you need to add a beneficiary, and after that, you can do ICICI personal loan payment. In the case of an online transaction, both net banking and third-party funds transfer facilities are in active state. Check out the steps to add the beneficiary for NEFT.
For iMobile Users
- Click on the ‘Funds Transfer’ under the ‘Transact’ option
- Click on the ‘Add a Payee’ button
- Select the beneficiary type ‘Other Bank Payee’
- Enter the loan account details
- Select the beneficiary’s IFSC
- Click on the ‘Add’ button
- Click on the ‘Confirm’ button
- Authenticate the registration by entering the OTP you receive on your mobile number
For Internet Banking
- Go to the ‘Funds Transfer’ section under the ‘Payments and Transfer’ tab shown on the page
- Click on the ‘Add a Payee’ button and select the beneficiary type ‘Other Bank Payee’
- Enter loan details
- Select the Beneficiary’s IFSC
- Click on the ‘Add’ button and ‘Confirm’ button afterward
- Now, authenticate the registration using the OTP you’ve received on your mobile
Once NEFT is successfully authenticated, you can pay the EMI amount.
Note – For net banking and iMobile app NEFT transactions are limited to INR 2 Lakh.
Check out the NEFT transaction charges below –
- Up to INR 10,000 – INR 2.25 + GST
- INR 10,000 – 1 Lakh – INR 4.75 + GST
- INR 1 – 2 Lakh – INR 14.75 + GST
- INR 2 – 10 Lakh – INR 24.75 + GST
Visit ICICI Bank ATM & Pay Your EMI
Using your ICICI debit card at any ICICI Bank ATM, you can pay your EMIs. And to calculate your EMI you can use ICICI personal loan EMI calculator. To do repayment through ATMs, swipe your card at any of the ATMs of ICICI Bank, click on the ‘More Options’ tab shown on the screen and pay the EMI for your ICICI personal loan. When the payment is successful, you’ll be notified about the debit via SMS or email.
